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Ljubljana stock exchange sold to Zagreb counterpart

Xinhua, July 17, 2015 Adjust font size:

The Vienna-based CEE Stock Exchange Group (CEESEG) signed a deal Thursday to sell the Ljubljana Stock Exchange (LJSE) to its Zagreb counterpart. The value of the deal has not been disclosed.

According to the agreement, the Zagreb Stock Exchange will take over 100 percent of LJSE shares from CEESEG following exclusive negotiations running since late June, said the Slovenian Press Agency (STA).

The transaction is expected to be completed in the final quarter of the year upon the regulatory approval in both countries and following a capital increase by the Zagreb Stock Exchange.

The two parties agreed not to disclose the price of the transaction, but the STA learnt from CEESEG in Vienna that the Zagreb Stock Exchange had made a "very attractive" offer.

The Ljubljana and Zagreb stock market operators have a long history of cooperation, for example through organization of events for potential investors.

In addition to the share purchase agreement, the Vienna Stock Exchange and the Zagreb Stock Exchange also signed a letter of intent to form a partnership focused on sharing their trading technology.

Commenting on the decision, CEESEG management board members Michael Buhl and Petr Koblic said: "We have an excellent track record and cooperation network in Central, Eastern and Southeastern Europe and we are very pleased to expand it further. The Ljubljana Stock Exchange will continue to benefit from the services and synergies we have provided over the past years." Endit